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NOQ

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Revolutionising the UK events industry through cashless & contactless digital ordering

111%
 - 
Funded 6 May 2021
£200,000 target
£225,010 from 300 investors
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Business overview

Location London, United Kingdom
Social media
Website www.noqgroup.com/
Sectors SaaS/PaaS Digital Mixed B2B/B2C
Company number 11805571
Incorporation date 4 Feb 2019
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Investment summary

Type Equity
Valuation (pre-money) £1.5M
Equity offered 12.80%
Share price £0.29
Tax relief

EIS

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Business highlights

  • Proven to reduce queues and enhance event experience
  • Multiple events secured such as music festivals and exhibitions
  • PR and trade marketing launched for the UK events industry
  • 190+ events operated in 2020
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Key features

  • Secondary Market
  • Seedrs nominee min. £10.15 +
  • Idea
  • Key information
  • Team
  • Updates
  • Investors 300
  • Discussion
  • Documents

Idea

Introduction

NOQ solves the issue of queuing at events by bringing digital ordering to the industry.

We are much more than a cashless and contactless payment system. NOQ provides a safer, more enjoyable experience. Increased sales and profit for events, with clearer, sharper insights.

Our Past and Future:

In our first year of operations (2020), we focused predominantly on F&B ordering.

Our aim is to scale across other revenue streams in 2021, providing a suite of services such as access to schedules, tickets sales, merchandise ordering and in-app advertising.

UK Events Industry:

We are well placed within the events industry to capture UK market share through partnerships with Event Management Companies, Food Concession Groups, POS Systems and WiFi providers.

How it Works:

NOQ offers 3 solutions. Pre-order ahead of time, click & collect or delivery to a location within the event.

Operationally, we provide a bespoke solution specific to suit the needs of each event and ensure seamless execution.

Substantial accomplishments to date

- Jul 2020 NOQ launched at first event

- Sep 2020 Partnership with Nationwide Caterers Association (NCASS)

- Nov 2020 Product development & partnership with a global AI and cloud optimisation company (Searce Technology)

- Feb 2021 Press release in Standout Magazine

- Feb 2021 Partnerships with WiFi & Food Concession companies

- Mar 2021 Press Release in IQ Magazine

- Mar 2021 Panel Talk at the ILMC Tech Panel

- Mar 2021 Press Release in Access All Areas

Key Metrics:

- £275k+ transactions taken on the platform

- 13k+ active users (iOS and Android)

- 25+ caterers using our platform as a takeaway solution

- 190+ events covered in 2020 (below 500 daily capacity due to COVID)

2021 Events Schedule:

- Secured 25+ outdoor events for 2021 (between 1k-25k daily capacity). These include music festivals, air shows, dog shows, comedy shows, prom/concert, bike shows and tradeshows.

- Tradeshows include Farnborough Events Show, where up to 4k attendees from the events industry will trial and test the NOQ ordering solution.

- Continued presence within the smaller events segment such as drive-in cinemas, outdoor popup cinemas, outdoor dining, food markets & much more.

Our USP:

- Marketplace app focused on maximising services for events.

- Operational risk minimised through effective vendor management and WiFi connectivity solutions.

- Operate day-to-day takeaway solution for food concessions/event caterers to drive adoption of the product, leading to increased event opportunities.

Monetisation strategy

- All customers who place food & beverage (F&B) and merchandising orders via the NOQ app at events will be subject to a service fee per transaction.

- Day-to-day event caterers use our app as a takeaway solution. Customers pay a service fee per transaction.

- Partnership with POS provider leads to revenue shares from all in-person sales made through cashless payments.

- We are building a space for in-app advertising within events allowing sponsors to showcase their brand to customers at the event.

- We believe promotions and adverts in the marketplace will lead to ticket sales ahead of events.

- NOQ will introduce preferred WiFi and Food Concessions lead to revenue kick backs as we introduce them to events we operate in.

- We believe additional services such as ticketing and data insights will enhance our monetisation strategy.

- After scaling in the UK, we will look to expand across other geographic locations and licensing our capabilities.

Use of proceeds

We believe we currently have a first-mover advantage. Therefore, funding will allow us to expand our domestic position and to accelerate organic growth.

Staff:

- We are expanding our team with top talent from the event sector growing our sales and marketing team

Product Development:

- Scaling our product team capacity in order to drive innovation and delivering an exciting roadmap

Marketing:

- Our presence and recognition in the industry will drive our success. We aim to attend key exhibitions, webinars, tech panels and create in-event advertising to drive adoption

OpEx:

- Maintain and expand our IT infrastructure and subscriptions

- Office rent in London, allowing the team to work together and strive for success (once feasibility allows)

- F&G to sustain compliance and smooth operations

We concluded a family & friends investment round in February 2021, which was initiated in November 2020. The price per share issued was £0.26 per share. These investors were early contributors of the business, supporting NOQ during the lockdown restrictions. This campaign is priced at £0.29 per share.

Key information

The company has £67,300 of SEIS allowance remaining, which will be allocated to investors on a first come first serve basis. Investments made above this amount will be eligible for EIS.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

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Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This webpage has been approved as a financial promotion by Seedrs Limited ("Seedrs"), which is authorised and regulated by the Financial Conduct Authority. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Seedrs platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Seedrs platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Seedrs does not make investment recommendations to you. No communications from Seedrs, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Seedrs does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Seedrs, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £1,523,621

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

Pitch type

There are 5 types of investment pitch available on Seedrs.

  • Equity
  • Convertible
  • Fund
  • Cohort
  • Secondary

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

Learn more about pitch type on Seedrs

Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

Learn more about investing and pre-emption rights.

Seedrs nominee

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Seedrs nominee.

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Seedrs Nominee). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

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